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Green Dot fans with Gig Wage to deliver employees which can be underbanked

Green Dot is partnering with and investing $2.5 million in Gig Wage to produce solutions like debit cards and money management to gig workers, plenty of who are the large choice of tens of an number that is incredible of and underbanked United States americans.

On the basis of the Federal Reserve, 16% of grownups have been underbanked in 2018, meaning they’d a bank-account and also used solutions which can be alternative cash advance providers and check-cashing services — solutions that Gig Wage creator and Chief Entrepreneur Officer Craig J. Lewis called “predatory.”

To be honest specially urgent for Ebony individuals, who made up the percentage that is greatest related to underbanked, at 35per cent compared to 11per cent of whites. Ebony households also make in the best portion with this 7.1 million households which have no bank account after all, prior to the Federal Deposit Insurance Corp.